The slide in European Union carbon permits to their lowest level since 2007 is underlining how the region's sovereign-debt crisis is hurting industrial production.
The December 2011 contract sank 6.5 percent today after dropping 7.3 percent yesterday, the biggest price decline in five months. European manufacturing shrank this month, London- based Markit Economics said yesterday. An EU statistics office report showed industrial orders fell 6.4 percent in September, the biggest drop in almost three years, signaling less need for fuels and, in turn, emission permits.............................................Full Article: Source